• Snap-On average return on tangible equity for 2023 was 29.58, a 2.67% decline from 2022.
• Snap-On average return on tangible equity for 2022 was 30.39, a 0.23% decline from 2021.
• Snap-On average return on tangible equity for 2021 was 30.32, a 14.03% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.